Should Franklin, MA empty nesters wait to sell their home?
This question can only be answered in terms of the equity in the home and any remaining mortgage. If a seller still carries a significant mortgage and has minimal equity, a current sale will likely result in needing to bring money to the closing table. For those with little or no mortgage, now may be the perfect time to capture the many buyers who are able to purchase a home with the current 4% mortgage rates. Studies show that many buyers are actually using adjustable rate loans which are now in the 2% range!
The chart below shows Franklin, MA single family home sales for the past year. Two hundred fifty two homes have sold averaging a 98% list to selling ratio meaning that homes are still selling within 2% of their asking prices. Not surprisingly,more homes have sold in the $300,000-$350,000 range than in other price ranges.
If you are looking to sell your home and need advice to get started, give me a call at 508-369-5131 or email franklinmahomes@comcast.net. I’ll provide a no-obligation market analysis so you will know, within a $10,000 range, what your home will likely sell for.
Comments(0)